U.S. Dollar / Japanese Yen

Long

Updated

Long term view - Bullish Cypher - First Short and then Long

A bullish Cypher is in the process of forming.
Expecting the price to short until leg D, which will provide long opportunity

Note

Move above the 50% fib level is bullish

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Also testing resistance level

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Place Buy order @ 112.469 (leg D)

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Stop @ 111.263

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Price is approaching leg D.
Placing the order for buy at leg D.
Stop loss @ 1.13 reverse fib extension from A to X.

Note

Stop @ 111.263
Buy order @ 112.5

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Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.